Morning (AM) Market Report

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Published on Friday, 23 September 2016 00:00

U.S. markets finished higher overnight, after stocks continued to build on the momentum of the Federal Reserve and Bank of Japan's recent decisions to help reassure investors over the short term.

Friday, 23rd September, 2016

According to media reports, the S&P 500 tallied its best two-day performance in more than two months, while the Nasdaq closed at a record high.

At the closing bell, the Dow Jones was up 0.5%, the S&P 500 was 0.7% higher, while the Nasdaq ended up 0.8%.

Red Hat's (RHT) second-quarter results were largely in line with expectations, as the firm continues to see strong adoption across both its core Linux product and emerging technology products. Shares of Amazon.com (AMZN) rose 1.9% to close above $800 for the first time following a price target raise by BMO, media reports said, while Apple (AAPL) shares gained 0.9% after positive analyst reports.

For Australian ADRs listed on the NYSE, BHP Billiton gained 28 cents (0.87%) to $32.46, ResMed rose 18 cents (0.28%) to $63.98, Telstra Corporation lifted 22 cents (1.11%) to $19.51 and Westpac gained 14 cents (0.61%) to $23.00. At 7:45 AM (AEST), the 10-year Treasury note yield was 1.62% and the 5-year yield was 1.16%.

European markets closed higher on Thursday. The FTSE 100 was up 1.1%, while the French CAC 40 and Germany's DAX both rose around 2.3%. Asian markets finished higher. The Hang Seng was up 0.4%, the Nikkei 225 gained 1.9%, while the Shanghai Composite rose 0.5%. India's Sensex lifted 0.9%.

Ahead of the local open, SPI futures were 27 points higher at 5,381.